2009-08-15-2009-01-01

Delayed sale of 26.75% of 36.75% interest in South Akcakoca sub-basin gas project and 8 contiguous exploration blocks in Turkish Black Sea.

Toreador Resources Corp., Dallas, (Nasdaq: TRGL) says its planned sale of interests in the South Akcakoca sub-basin gas project and eight contiguous exploration blocks in the Turkish Black Sea has been delayed because the deal hasn't received necessary approvals from the Turkish government. In August, Toreador announced it planned to sell 26.75% of its 36.75% interest in the project and the exploration blocks to an undisclosed buyer for $80.25 million. Toreador reports that the approvals are expected to be obtained by the end of the year, when the sale will be finalized. The company adds that it received $4.3 million from a settlement related to an incident which occurred during the development of the South Akcakoca sub-basin in October 2005. Toreador has oil and gas properties in France, Turkey, Romania and Hungary.